John Baron: I suggest that my right hon. Friend never tire of reminding the Opposition that this recession, like all previous post-war recessions, is a recession built on debt and that one cannot borrow one's way out of debt.

Jessica Lee: I welcome my right hon. Friend's statement, particularly on the investment of GlaxoSmithKline in a new facility at the university of Nottingham in Erewash. Does he agree that ring-fencing the science budget, bolstered by his coming to this House today and presenting figures of growth and stability for the UK economy, sends out a clear message to the rest of the world that the UK, particularly the east midlands, is an excellent place in which to invest and build?